Music Australia News

UK Music takes stock of its worth, releasing Measuring Music 2016

Maeve Marsden
| September 13, 2016

Data nerds, rejoice! Following our enthusiasm for UK Music’s study into live music and music tourism, Music Australia was thrilled when on 12 September, UK Music released Measuring Music 2016 report.  This annual study of the United Kingdom’s music industry, measures the contribution that industry makes to the economy. The study found that the industry enjoyed increased export growth across the sector in 2015, contributing to a £4.1bn overall contribution to the UK economy.

By mapping the growth of British music, UK Music is uniquely placed to campaign politically and socially for ongoing support of the industry. In the four years that UK Music has been publishing Measuring Music, the industry has demonstrated consistent growth, despite the region’s otherwise difficult economic circumstances.

As reported on the UK Music site, Culture Secretary, Karen Bradley MP said of the report: ” People around the world get their first taste of British culture via our music, while for millions at home it is a source of entertainment and creative expression. Above all, it simply brings us joy. I want all our children, from every background, no matter what their aspirations, to have music in their lives.”

The report outlines the contributions of both recorded and live music to the sector, and digs into the detail of the challenges facing the sector, including the need to adapt to new modes of music consumption. Measuring Music 2016 reports on the boost to the digital music economy care of paid subscription streaming services like Apple Music, Spotify, Tidal and Deezer, noting that, to some extent, the impact of streaming is off-setting declines elsewhere in the market.

While celebrating the successes of digital streaming, UK Music draws readers once again to the debate on fair remuneration for rights holders, a particularly pertinent issue in Australian context, as we reported last week.

With one in six of all artist albums sold across the globe by British artists and five of the top ten selling albums by UK acts, the report highlights the successes and individual contributions of major artists including Adele, Coldplay, Ed Sheeran and Sam Smith. That said, the strength of the industry can’t be solely attributed to the heavy hitters; 119,020 full time jobs were provided within the music industry in 2015, many of whom were working in creative roles. Musicians, composers, songwriters, performers and lyricists contributed £2bn to the economy alone.

The full report can be downloaded from the UK Music website.

 

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